C3is (NASDAQ:CISS) Trading 2.6% Higher – Still a Buy?

C3is Inc. (NASDAQ:CISS)’s stock price shot up 2.6% during mid-day trading on Wednesday . The stock traded as high as $0.8520 and last traded at $0.8437. 114,190 shares were traded during mid-day trading, a decline of 78% from the average session volume of 518,636 shares. The stock had previously closed at $0.8221.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CISS. Wall Street Zen upgraded C3is to a “sell” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “sell (d-)” rating on shares of C3is in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

C3is Price Performance

The company has a 50-day moving average price of $1.22 and a 200-day moving average price of $16.33. The firm has a market capitalization of $860,574.00, a PE ratio of -0.01 and a beta of 2.13.

C3is (NASDAQ:CISS) last released its earnings results on Friday, February 20th. The company reported ($4.86) EPS for the quarter. The business had revenue of $10.55 million during the quarter. C3is had a net margin of 30.13% and a return on equity of 2.38%.

Hedge Funds Weigh In On C3is

Several institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in C3is in the third quarter valued at $29,000. Wexford Capital LP increased its stake in C3is by 460.1% in the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock valued at $240,000 after purchasing an additional 92,014 shares during the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new position in C3is in the fourth quarter valued at $198,000. 10.54% of the stock is currently owned by institutional investors and hedge funds.

About C3is

C3is Inc offers international seaborne transportation services. It provides its services to dry bulk charterers, including national and private industrial users, commodity producers and traders, oil producers, refineries, and commodities traders and producers. The company owns and operates a fleet of two drybulk carriers, which transport major bulks, such as iron ore, coal and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers, and one Aframax crude oil tanker that transports crude oil.